EML to open technology and innovation hub in Galway

EML Payments is expanding its Irish operation with the establishment of a technology and innovation hub in Galway, leading to the creatiion of 20 jobs.

The investment is supported by the Irish Government through IDA Ireland.

EML provides prepaid payment services in Australia, Europe and North America, issuing mobile, virtual and physical card solutions for pay-outs, gifts, incentives and rewards as well as supplier payments. The company has a sales and marketing operation in Wicklow.

“The acquisition of Perfectcard DAC in July, which has led to the establishment of a technology and innovation hub in Galway is very exciting for EML,” said EML managing director and group CEO Tom Cregan

“Having an Irish e-money licence allows EML to self-issue regulated payment products across the European Union without the need for external third party BIN [bank identification number] sponsors, which provides our customers with greater regulatory certainty. The acquisition also expands our product capability, enabling EML to become an Issuer, payment processor and programme manager across the European Union. Perfectcard provides EML with an excellent corporate expense and corporate incentive solution that we can grow in our existing geographies.”

IDA Ireland executive director Mary Buckley said: “This investment strengthens Ireland’s network in Australia with their presence in Galway and Wicklow. As a strong presence in the FinTech sector, this new investment by the company will act as an excellent reference sell for the Financial Services, FinTech and Software Development sectors. I wish the company every success with their new technology and innovation hub in Galway.”